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| Organizational Crisis Management for Business Continuity : A conceptual Review Report on Bharatpe Fintech Company's Situation Analysis
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Mgbemena, Ijeamaka Charity; Nwankwo, Nkechi Catherine; Onah Chikwendu Benedict Eze, Ogechi Mishelle
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Abstract:
This report discusses an overview of the reputational and operational crisis experienced by Bharatpe, a prominent Indian fintech company, the key crisis issues, the strategies deployed by the company to mitigate the crisis, and possible recommendations for improvement. The key crisis issues faced by the company were examined drawing upon a relevant theory. The Pauchant and Mitroff Onion Model of Crisis Management was examined in light of the difficulties discovered concerning the organization's preparedness-or lack thereof-at the time of the crisis. The paper analyses BharatPe's response to the crisis, highlighting its Business Continuity Management (BCM) provisions, crisis management effort, and crisis communication initiatives. The report revealed that the company lacked a specific business continuity plan and that its crisis management efforts lacked holistic depth, but rather concentrated on the recovery of some misappropriated funds, increased data security, customer support, coordination with regulatory authorities, new hires to fill the talent gap, and stakeholder perception. The report concludes that while BharatPe has come to terms with the impact of the crisis on its operations, reputation, and assets, it has not yet developed a clear blueprint for what its BC plan should look like. Additionally, the report notes that the haphazard operational recovery plan that BharatPe adopted will not be sufficient because it cannot stand independent of the BCM framework. The following are some of the report's recommendations for the company:
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